17.01.2005

Veidekke exits Ramirent

Veidekke, the Norwegian construction group, which until November held 16 percent of Finland’s Ramirent, has liquidated its holding in the Finnish based rental company.

Veidekke, sold 1.1 million shares or roughly eight percent, in Ramirent on November 25th last year, the sale this week of a further million shares liquidates its holding in Ramirent and ends its participation in the rental sector.

Veidekke obtained its Ramirent holding when it sold its rental business, Bautas, to Ramirent, that deal along with several similar deals, helped transform Ramirent from one of the leading Finnish rental companies into a regional market leader in Northern and Eastern Europe.

Ramirent own one of the largest aerial lift fleets in Europe, with well over 3,000 units, which it plans to add significantly to this year following the recent sale of its 50 percent holding in Stavdal Sweden.(see Vertikal.Net December 23rd) The company is also a significant player in the scaffold and tower crane market, particularly in its home market.

Ramirent operates in Finland, Denmark, Norway, Sweden, Russia, the Baltic states, Poland and Hungary.